September 2018 Housing Supply September-Housing-Supply-Report

Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS® September 2018 According to a recent study by Fannie Mae, 24 percent of Americans feel that now is a good time to buy a house. That number was 54 percent five years ago. Feelings change rapidly when incomes do not match well with home prices and frustration sets in. For the 12-month period spanning October 2017 through September 2018, Pending Sales in the Hilton Head region were up 19.0 percent overall. The price range with the largest gain in sales was the $650,001 and Above range, where they increased 29.1 percent. The overall Median Sales Price was up 6.3 percent to $313,453. The property type with the largest price gain was the Condos / Villas segment, where prices increased 7.0 percent to $226,800. The price range that tended to sell the quickest was the $100,001 to $225,000 range at 110 days; the price range that tended to sell the slowest was the $650,001 and Above range at 198 days. Market-wide, inventory levels were down 0.5 percent. The property type that gained the most inventory was the Condos segment, where it increased 6.9 percent. That amounts to 5.2 months supply for Single-Family homes and 4.9 months supply for Condos. Quick Facts + 29.1% + 23.8% + 21.1% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Property Type With Strongest Sales: $650,001 and Above 4 Bedrooms or More Single-Family Pending Sales Days on Market Until Sale Median Sales Price Percent of List Price Received Inventory of Homes for Sale Months Supply of Inventory 2 3 4 5 6 7 Current as of October 10, 2018 Data © 2018 MLS of Hilton Head. All Rights Reserved. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2018 ShowingTime. | 1